Common use of Bankers' Acceptances Not Being Purchased Clause in Contracts

Bankers' Acceptances Not Being Purchased. If the Borrower has not elected to have the Lenders purchase Bankers' Acceptances issued by it hereunder, the Agent, as soon as practicable following receipt of a notice of Borrowing by way of Bankers' Acceptance in the form of Schedule C, shall provide either written or telephone advice to each applicable Lender on or before 11:00 a.m. (Calgary time) of the amount of each issue of Bankers' Acceptances to be accepted by it or BA Equivalent Advance to be made by it, the face amount of each Bankers' Acceptance, the discounted proceeds of sale deliverable in respect thereof or the amount of the BA Equivalent Advance, the person to whom the Bankers' Acceptances have been sold and from whom the discounted proceeds of sale in respect thereof should be received, and the term thereof, which term shall be identical for all Lenders. Such advice, if provided by telephone, shall be confirmed in writing at or prior to 2:30 p.m. (Calgary time) on the applicable Drawdown Date, Conversion Date or Rollover Date by delivery to each applicable Lender of a written confirmation with respect to such Bankers' Acceptances.

Bankers' Acceptances Not Being Purchased. If the Borrower has not elected to have the Lenders purchase Bankers' ’ Acceptances issued by it hereunder, the Agent, as soon as practicable following receipt of a notice of Borrowing by way of Bankers' ’ Acceptance in the form of Schedule CB, shall provide either written or telephone advice to each applicable Lender on or before 11:00 10:00 a.m. (Calgary time) of the amount of each issue of Bankers' ’ Acceptances to be accepted by it or BA Equivalent Advance to be made by it, the face amount of each Bankers' ’ Acceptance, the discounted proceeds of sale deliverable in respect thereof or the amount of the BA Equivalent Advance, the person to whom the Bankers' ’ Acceptances have been sold and from whom the discounted proceeds of sale in respect thereof should be received, and the term thereof, which term shall be identical for all Lenders. Such advice, if provided by telephone, shall be confirmed in writing at or prior to 2:30 p.m. (Calgary time) on the applicable Drawdown Date, Conversion Date or Rollover Date by delivery to each applicable Lender of a written confirmation with respect to such Bankers' ’ Acceptances.

Bankers' Acceptances Not Being Purchased. If the Borrower has not elected to have the Lenders purchase Bankers' ’ Acceptances issued by it hereunder, the Agent, as soon as practicable following receipt of a notice of Borrowing by way of Bankers' ’ Acceptance in the form of Schedule CB, shall provide either written or telephone advice to each applicable Lender on or before 11:00 9:00 a.m. (Calgary time) of the amount of each issue of Bankers' ’ Acceptances to be accepted by it or BA Equivalent Advance to be made by it, the face amount of each Bankers' ’ Acceptance, the discounted proceeds of sale deliverable in respect thereof or the amount of the BA Equivalent Advance, the person to whom the Bankers' ’ Acceptances have been sold and from whom the discounted proceeds of sale in respect thereof should be received, and the term thereof, which term shall be identical for all Lenders. Such advice, if provided by telephone, shall be confirmed in writing at or prior to 2:30 p.m. (Calgary time) on the applicable Drawdown Date, Conversion Date or Rollover Date by delivery to each applicable Lender of a written confirmation with respect to such Bankers' ’ Acceptances.

Bankers' Acceptances Not Being Purchased. If the Borrower has not elected to have the Lenders purchase market on its own Bankers' Acceptances issued by it hereunder, the Agent, as soon as practicable promptly following receipt of a notice of Borrowing by way of Bankers' Acceptance in the form of Schedule CB and in any event prior to 9:30 a.m. (Calgary time), shall provide either written notice or telephone advice with respect to such Bankers' Acceptances to each applicable such Lender on or before 11:00 a.m. (Calgary time) of the amount of each issue of Bankers' Acceptances to be accepted by it or BA Equivalent Advance to be made by it, the face amount of each Bankers' Acceptance, the discounted proceeds of sale deliverable in respect thereof or the amount of the BA Equivalent Advance, the person to whom the Bankers' Acceptances have been sold and from whom the discounted proceeds of sale in respect thereof should be received, and the term thereof, which term shall be identical for all such Lenders. Such advice, if provided by telephone, shall be confirmed in writing at or prior to 2:30 p.m. (Calgary time) on the applicable Drawdown Date, Conversion Date or Rollover Date Date, as the case may be, by delivery by the Agent to each applicable such Lender of a written confirmation with respect to such Bankers' Acceptancesconfirmation.